31 Temple Street, Birmingham, B2 5BD
High profile freehold office re-positioning opportunity, offering a unique full redevelopment in the heart of Birmingham’s Central Business District.
The building is fully stripped out offering a ‘blank canvas’ opportunity to deliver a new best in class office redevelopment with a ground floor commercial unit. The building is fronting Temple Street and in close proximity to New Street Station.
Proposed redevelopment to provide 5,286 sq m (56,895 sq ft) of office and ground floor commercial accommodation, arranged over ground, six upper floors, lower ground and two basement car parking levels. Flexible floorplates from 6,964 – 9,084 sq ft offering a range of suite sizes to capture growing occupier demand in Birmingham. 36 secure basement car parking spaces at a generous city centre ratio of 1:1,580 sq ft.
Full planning has been granted under application number 2020/03196/PA for the comprehensive refurbishment and reconfiguration of the building.
Prime headline rents in Birmingham currently stand at £37.00 per sq ft against a backdrop of Grade A supply of just 285,000 sq ft. This equates to enough supply to meet the demand for just over half a year’s average Grade A take-up. This is the lowest level of supply of Grade A space on record offering excellent scope for further rental growth.
Offers in excess of £15,000,000 (Fifteen Million Pounds) which reflects a low capital value of £263 per sq ft.